With the current economy crisis that is affecting the whole world and showing no sign of stopping down, our nation is starting to feel the heat. In Penang alone, there are many factories that will be shutting down or running on low manpower come this Christmas.
Intel manufacturing is having shutdown for Christmas week, Penang Seagate is having shutdown for >2 weels till new year, Vistapoint is having shutdown from Christmas till 4th January and there are many more also having shutdown from Christmas till after New Year. Worse so far to be hit is definitely Agilent Technologies. Apart from shutting down from Christmas till 4th January, all employees are to have their salary cut 10% starting January 2009.
This is really really bad. They will be given extra 2 days leave per month and these leaves shall not be carried forward. No announcement made as of when will the salary cut stop as top management only said that the situation will be review quarterly. So sad....brace for more...after 2009 Chinese New Year, things might get worse...
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